Mastercard – the pioneer in global payment technology solutions – and PingPong – a global leader in online payment processing and cross-border payment service platform – have teamed up to provide more efficient and secure payment solutions for cross-border e-commerce merchants. This partnership is focused on card-issuance services and acquisition.
According to the Salesforce Shopping Index, the trusted report on global online shopping statistics and e-commerce growth trends, global digital commerce increased 58% year-on-year in Q1 2021, which showed the continued growth in online shopping.
This partnership will also enable cross-border e-commerce businesses, small and medium-sized enterprises (SMEs) in particular, to utilise comprehensive digital payment solutions, including more effectively harnessing online sales data.
As a renowned payment processing service provider for global commerce, PingPong provides e-commerce clients with compliant, secure, efficient, and value-added profound payment solutions, striving to refine all operational aspects in great depth.
In his statement, PingPong Founder and CEO Chen Yu said, “The partnership with Mastercard is a milestone for PingPong in our globalization strategy. Digital transformation has allowed the economies of Asia and other emerging markets, particularly China, to gain access to the global market on a larger scale and at a deeper level. Cross-border payment plays a crucial role in enabling payment services in global transactions. PingPong will combine its cutting-edge experience in worldwide cross-border payment with Mastercard’s expertise to provide more efficient and convenient financial services for companies entering the global market, including SMEs, technology enterprises and traditional enterprises that are undergoing digital transformation.”
Mastercard Managing Director for Hong Kong and Macau Helena Chen said the company is looking forward to their collaboration with PingPong. “Mastercard is focused on innovating its payments technology to better support SMEs and are therefore pleased to partner with PingPong to provide companies with a comprehensive, efficient and secure payment solution for them to further develop their business. Mastercard believes that this partnership will serve to expand SMEs’ access to cross-border e-commerce, supporting their growth at a time when digital and online shopping continues to boom.”
Through this partnership, Mastercard and PingPong plan to work together for the long term to use technology to offer users more comprehensive and reliable payment systems and financial services.
